Resale property prices in Spain registered a slight fall in February. The average price stands at 1,497 euros per square metre, a fall of 0.7% when compared to January. When compared to February 2016, the interannual variation is -5.4%, according to data released by idealista.
February saw the price of resale property increase in only 7 of Spain’s 17 communities. The largest increase was in the Balearic Islands where the monthly increase was 0.9%. Andalusia saw prices increase by 0.6%.
Meanwhile, Catalonia saw the largest fall in February with prices dropping by 3%. Euskadi followed with a fall of 0.6%, while both Asturias and the Canary Islands saw prices fall by 0.4%.
Despite the fall, Euskadi remains the most expensive community with an average price of 2,480 euros / m². Madrid is the next most expensive with an average price of 2,334 euros / m², followed by the Balearic Islands (2,019 euros / m²).
The cheapest community is Castilla la Mancha (898 euros / m²). Extremadura (922 euros / m²) and Murcia (1,002 euros / m²) followed.
Resale property prices increased in 23 provinces in February. Cuenca saw the largest increase with prices increasing by 2.2%. They were followed by Teruel (2.1%) and Jaén (1.6%). The largest fall was recorded in Barcelona where prices fell by 3.3%. Tarragona (-2.5%), Leon (-1.9%) and Zamora (-1.4%) also saw price falls.
In the province of Malaga the price increased by 1.1% in February to stand at an average of 1,729 euros / m².
The ranking of the most expensive provinces remains unchanged. The Basque provinces of Guipúzcoa and Vizcaya are the most expensive, with 2,738 euros / m² and 2,559 euros / m², respectively. Following them are Madrid (2,334 euros / m²) and Barcelona (2,162 euros / m²).